Global Market Insights, Inc., announces a report on Energy Storage Systems Market Trends & Forecast - 2025.' The study encompasses an elaborate analysis of the product, application, and regional trends in the industry.
Growing concerns over power conservation and shift in focus towards renewable energy sources will outline energy storage systems market trends over the forecast period. Rising concerns over emissions due to increasing use of cars and coal along with favorable measures to promote adoption of sustainable energy will drive the development of storage solutions. According to International Energy Agency, renewable share in power generation globally is expected to reach 40% by 2040.
Browse key industry insights spread across 490 pages with 674 market data tables & 59 figures & charts from the report, “Energy Storage Systems Market Size By Technology (Pumped Hydro, Electro-Chemical {Lithium Ion Battery, Sodium Sulphur Battery, Lead Acid Battery, Flow Battery, Others}, Electro-Mechanical {Flywheel, Compressed Air Energy Storage}, Thermal {Water, Molten Salt, Phase Change Material, Others}), By Application (Electric Energy Time Shift, Electric Supply Capacity, Black Start, Renewables Capacity Firming, Frequency Regulation, Other), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Saudi Arabia, UAE, South Africa, Brazil, Argentina, Mexico) Application Potential, Competitive Market Share & Forecast, 2019 - 2025” in detail along with the table of contents: https://www.gminsights.com/industry-analysis/energy-storage-systems-market
Investments from major companies like Beacon Power, Finetex EnE, Sunwell, Brightsource Energy, Solar Reserve, Schluchseewerk AG, among others have eased the availability of energy storage systems and created numerous opportunities for the adoption of sustainable energy solutions. Favorable government policies to encourage EV sales paired with developing electrochemical energy storage technologies is likely to enhance energy storage energy market share in the coming years.
Ongoing research and implementation of large-scale energy systems to enhance the energy density life cycle of storage technologies will further bolster the product demand and improve the efficiency and performance of batteries. Electro-chemical energy storage systems segment is slated to witness a robust growth owing to have the potential to make a major contribution towards the implementation of sustainable energy.
Lead Acid, Lithium Ion, Sodium Sulphur, and Flow batteries are some of the vital electro-chemical technologies that are extensively deployed for stationary storage. In addition, high electrochemical effectivity, low price, good reliability, and safe operation are few of the essential characteristics that are widely used for secondary electrochemical source of electric energy. Technological advancements in system design to improve the battery performance will propel the use of this technology in many applications.
Expanding renewable energy sources, growing efforts toward greenhouse gas reduction and unveiling of RE targets will certainly boost energy storage systems market size. For instance, Government of Germany has aimed to reach 65% of the power consumption from sustainable sources by 2030. Germany ESS market share is expected to register over 3% CAGR by 2025. Industry players are directing rigorous efforts to enhance the sale of electric vehicles in order to lower pollution rates in the region.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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